Compliance: Unlocking the data that matters

Effective compliance and proactive surveillance in financial markets.

Financial services industry faces demanding regulation.

This whitepaper covers the key challenges faced by compliance and risk teams in the financial services industry. We discuss the impact of regulation and the eye-watering fines imposed as a result of being non-compliant. We also look at how companies deal with data trapped in silos and incompatible legacy systems.

The challenges facing compliance and risk teams.

Based on our conversations with customers, we have identified three primary compliance challenges:

Scale of investigations: dealing with investigations that require the collation and analysis of potentially hundreds of thousands of pieces of relevant information and documents, as well as identifying and interviewing hundreds of personnel.

Islands of incompatibility: many banks have built-up a collection of surveillance tools over time across voice, chat, email, trade and social media. This has created a series of data silos that are hard to integrate, making it difficult for compliance teams to build up a consolidated picture of any individual event when a breach occurs.

Culture: Historically there has been a lack of engagement between the compliance “consumers” and the IT “suppliers”. Executives need to work more closely with the compliance community and traders want the freedom to interact with their customers to build a relationship beyond a quotation engine.

From silos to a coherent world.

Compliance isn’t an optional extra. Banks will need to continue to invest in their talent, tools and technology to ensure they have the skills and capabilities to stay one step ahead of rogue behaviour.

How we can help.

We start by understanding your current compliance solution and the target state you want to reach. Then we identify where the greatest impact can be gained based on the business metrics you want to achieve.

Interested in reading a copy of the paper? Download it now by completing the form on this pageAlternatively feel free to get in touch.